Sir Slippery
» He pocketed £580m from BHS over 15 years » He sold it for £1 with a £571m pension hole » He lives in luxury as his ex-workers face ruin » But Philip Green still keeps his knighthood...
PHILIP Green could keep his knighthood after officials ruled he will not face a ban on being a director over the BHS collapse.
It sparked fury among staff who lost their jobs and were left with a £571million pensions black hole.
One said: “It’s disgusting.” Ex-BHS boss Dominic Chappell faces a ban.
He doesn’t deserve his knighthood. The buck should stop with him FORMER BHS WORKER ON THE NO-BAN DECISION
FURIOUS former BHS staff last night blasted the decision not to ban Sir Philip Green from being a director – a move which means he could keep his knighthood.
The gloating, yacht-loving billionaire was yesterday still insisting he had done no wrong, despite the collapse of the store with the loss of 11,000 jobs and a £571million pensions blackhole while he raked in £580million from the firm.
The Insolvency Service decided not to disqualify him and instead announced plans to ban ex-BHS boss Dominic Chappell for up to 15 years. A former store manager branded the move “disgusting”.
The ex-worker said: “Dominic Chappell was far from blameless but he was a scapegoat. Philip Green took money away from BHS for years. He is a savage individual. It was all about the money and greed.” Another former staffer: “He doesn’t deserve his knighthood. The buck should stop with him.” Commons Work and Pensions Committee chair Frank Field urged Theresa May to honour a 2016 vote by MPs to strip Green of his gong. She was waiting for the insolvency inquiry outcome before making a decision.
Mr Field said: “This looks like the same old story of the Establishment powers being strong on the weak and weak on the strong.” And he warned the ball was firmly in the PM’s court.
Mr Field added: “She has a choice. Is she with the big guy or the little guy?”
Speaking after the investigation found no evidence Green had a hand in BHS’s 2016 collapse, the tycoon said: “I am pleased as I don’t honestly believe I’ve done anything wrong.”
He bought the store in 2000 and his family firm collected the £580million in dividends, rent and interest payments.
It went bust less than a year after he offloaded it for £1 to Chappell, a former bankrupt with no retail experience. Green last year agreed to pay £363million into the pension scheme.
It meant most of the 22,000 fund members were better off than if it had ended up in a rescue scheme, but will still be out of pocket in retirement – while Green lives a life of luxury.
Three other former BHS directors are also facing bans over the collapse.